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Learning Points: What is business ethics? Morality & Ethics Why is business ethics important? Globalization: a key context for business ethics? Sustainability: a key goal for business ethics?
Morality
Ethics
Ethical theory
grey area
Law
Globalization is: a process which diminishes the necessity of a common and shared territorial basis for social, economic, and political activities, processes, and relations.
deterritorialization
Effects of Globalization
In globalised environment if USA sneezes, the Asia catches cold and vice versa. Markets are inter dependent Confidentiality is difficult to maintain. MNCs are centre of attention- they pitch developing countries against each other by the dangle of FDI- favor low tax and low level of environmental regulation & restricted human rights etc.
Effects of Globalization
Global communications, global products, global financial systems and market are the examples of de- territorialization in world economy.
Employees
Consumers
Suppliers & competitors Civil society (NGOs, etc) Government & regulation
Economic Social
Environmental
Sustainability- continued
" I do not know what weapons World War III will be fought with, but world War IV will be fought with sticks and stones- Albert Einstein. It is paramount or supreme or number one priority for all of us to make our world worth living- of peace and prosperity.